KUALA LUMPUR (Aug 5): Datuk Seri Koe Peng Kang will be stepping down from his post as S P Setia Bhd’s deputy president and chief operating officer (COO) to “pursue interests outside the organisation”.

His last day with the property developer will be Sept 30, the group said in a statement on Friday (Aug 5).

Koe joined S P Setia as project manager in 1997. He was appointed as the deputy president and COO on Oct 1, 2021 for a two-year term.

Under his leadership, Koe pioneered the award-winning Setia eco-themed township developments, initiated the hospitality segment and overseas projects for the group, said S P Setia.

“As the current president and vice president of FIABCI Malaysia and Asia Pacific respectively, we acknowledge Datuk Seri Koe’s contributions not only to the company but also to the Malaysian property sector,” added the group.

S P Setia chairman Tan Sri Syed Anwar Jamalullail said Koe's replacement will be announced in due course.

“In the meantime, the president and chief executive officer assumes these responsibilities with the assistance of all the executive vice presidents,” he said.

S P Setia’s share price settled up one sen or 1.3% at 78 sen on Friday, giving the group a market capitalisation of RM3.18 billion. Year to date, the counter has fallen 37.1% from RM1.24.